|Day's Range||105.26 - 106.734|
|52 Week Range||105.0490 - 114.5110|
Moody's Investors Service on Friday said it's revised downward its GDP growth outlook for 16 Asian economies. The revision came due to sharp slowdown in "externally-oriented" economies, as well as domestic factors holding back Japan, India and the Philippines. Softer capital formation has mirrored the weakening in exports, especially for trade-reliant economies such as Korea and Hong Kong, Moody's said.
The direction of the USD/JPY on Friday will be determined by the momentum created by Powell at 14:00 GMT. Holding above the pivot at 106.013 is giving the market an early upside bias. Traders should watch this level all session.
A scheduled FED Chair Powell speech from the Jackson Hole symposium is the main event of the day. He may feel Trump over his shoulder…
Investing.com - The New Zealand dollar rose against the U.S. dollar following comments by Reserve Bank of New Zealand (RBNZ)’s Governor Adrian Orr.
The British pound initially fell during the trading session on Thursday, but then turned around to rally towards the ¥130 level. At this point, the ¥130 level should be resistive, but not impossible to break through.
Investing.com - The U.S. dollar dipped on Thursday before recovering after data showed a decline in the manufacturing and services sector as businesses remain wary about the health of the U.S. economy.
It’s often like this prior to market-moving events. Prices keep trading in a narrow consolidation, dropping subtle clues here and there. The context remains though, and coupled with the preceding price action, it allows to us to see the market tipping its hand. So, how have we prepared for what’s to come?
On Wednesday, the Forex pair closed higher after the release of the Fed minutes, however, it traded inside the previous session’s range, which indicates investor indecision and impending volatility.
It’s a busy day ahead as the markets react further to the FOMC meeting minutes. Chatter from Jackson Hole may overshadow the stats…
Investing.com - The U.S. dollar was largely unchanged on Thursday in Asia. The U.S. Federal Reserve’s July 30-31 meeting minutes released overnight received some focus.
The US dollar rallied a bit during the trading session early on Wednesday but continues to see a lot of resistance just above at the ¥107 level. At this point, it looks as if we are going to continue to see more of the same.
The British pound rallied a bit during the trading session on Wednesday, but also pulled back. Now that we are looking at the ¥130 level, the question then becomes whether or not we can break above there. If we do, obviously that means a lot and if we don’t, that means confirmation.
The volatility on the market dropped recently and the reason for that seems to be in the Jackson Hole symposium later this week.
The USD/JPY is currently trading inside the August 13 wide range for a sixth straight trading session. This indicates investor indecision and impending volatility. The price action is being controlled by Treasury yields and demand for risk.
Investing.com - The U.S. dollar was hovering just below three-week highs in subdued trade on Wednesday as investors looked ahead to the minutes of the Federal Reserve’s July meeting later in the day for fresh clues on the monetary policy outlook.
The upward-facing USD/CHF pair was aiming to breach above the overhead red Ichimoku Clouds. After displaying three consecutive positive sessions in a row, the Japanese Yen pair was attempting to breach above the 106.742 resistance.
The Euro is staging a modest recovery against the Dollar despite Italy’s Prime Minister Guiseppe Conte confirming that he will resign ahead of a no-confidence vote.
The US dollar broke down a bit during the trading session on Tuesday, reaching towards the bottom of the trading session on Monday. Because of this, it looks as if the market is going to roll right back over and go looking towards the ¥105 level.
The British pound has fallen a bit during the trading session on Tuesday as we continue to see a lot of weakness involving global risk appetite and of course the Brexit. All things being equal it’s likely that we will continue to see this pair fall.
Investing.com - The euro recovered from earlier lows after Italy’s Prime Minister Giuseppe Conte said he is resigning ahead of no-confidence vote, putting the future of the Italian government in jeopardy.
Based on the early price action and the current price at 106.563, the direction of the USD/JPY on Tuesday is likely to be determined by trader reaction to the uptrending Gann angle at 106.549.
The RBA looks set to hold on rates near-term. For the day ahead, a lack of stats will leave the markets exposed to any trade war chatter.
Fiber continued to slip for the fifth consecutive session today. The Ninja continued to stay within the lower vicinity of the Bollinger Bands, sustaining adverse price actions throughout the day.
The British pound went back and forth during the trading session to open the week on Monday, as we continue to see a lot of questions about the Brexit. Beyond that, we have a certain amount of concern when it comes to global economics.